Everything to Know About Malik Monk's Potential Contract Extension

Extensions - for both rookies and veterans - have become the norm. Free agency is an afterthought for most. This will remain the case until we get a new CBA that changes the mechanics.  

Similarly, the NBA is formally exploring expansion, very openly looking to add two expansion teams soon - potentially as soon as 2028. This would mean we would see an expansion draft for the first time since 2004. 

Mike Zarren (Assistant GM of the Boston Celtics) was recently asked about how a potential expansion draft affects the team’s long-term planning. He responded by saying, “The more good contracts you have, the more good contracts you’ll have left after an expansion draft…the more good players you have, the more you’ll have left.”

Zarren is discussing potential expansion strategy, but his quote should have a broader meaning for the Kings’ long-term strategy. Keegan Murray is currently the only non-rookie scale money on the books in 2028. The roster will absolutely change between now and then, but they will likely have five or six roster spots to fill with non-rookies. 

Those non-rookie roster spots are where Zarren’s quote comes into play. Though he has limitations, Monk is a good player. He has been since he got to Sacramento. As the trade market has shown, he is not on a good contract right now. His current extension eligibility provides an opportunity to change that. 

What Would the Extension Look Like? 

Since teams already think Monk makes too much as is, this would be another market-correction extension. It is unfortunate how often we write about these for the Kings. It would not be fun to be Scott Perry and pitch accomplished veterans on the idea of taking steep pay cuts. 

Nonetheless, there are certainly places to look for guidance. C.J. McCollum’s last several extensions are strong examples of a veteran who was paid like a star and slowly scaled down to bring his value closer to what the league perceives his value to be as he ages.

This way, you secure your player and retain the option of trading him should the opportunity arise. Other teams are also in the business of acquiring as many good players on good contracts as possible, so getting Monk on a “good” contract will bump his trade value, too. 

McCollum’s first market correction came in EXT 2 below, where the first-year salary drops back to the AAV of his previous extension (EXT 1), and declines from there. 

The 25-26 salary is an 8% decrease from the prior season, which is the most allowed under the CBA. Here is what a Monk extension could look like using similar parameters. This also assumes he declines his PO before extending. Considering that extra year has been a big hang-up, it feels like that is a necessary condition for this extension to happen. 

By 2028-29 (Monk’s age 30 season), that salary will be around the full NTMLE. Sacramento acquired then-31-year-old Dennis Schroder via sign-and-trade using full NTMLE when he was a UFA last summer, and immediately struggled to move his contract once they realized how much of an overpay it was. 

Monk would be subject to extend-and-trade restrictions under this structure. If Sacramento wanted Monk to be immediately trade eligible after extending, they could make the 28-29 salary just a 5% decrease from 27-28 instead of 8%. This would put his salary at ~$17.9M in 28-29, so a $500K raise. 

Keeping Monk at that number as he turns 30 has more pros than signing a journeyman point guard at nearly double his market value. It goes without saying that Monk would ideally still be a productive player then, but his value goes beyond that. 

Monk has gone from five-star recruit, to a lottery pick, to not receiving a qualifying offer to signing a minimum contract, to signing for the NTMLE, to signing for the max the Kings could offer in 2024. He has experienced as many highs and lows as you could reasonably expect in a basketball career. 

That alone is incredibly valuable to have as high-profile young players get drafted by the Kings. They will absolutely not all follow linear development paths right to stardom, and Monk is as well-equipped as anyone to help guide them through their journey as players and as people.  

Monk wanted (and ideally still wants to be) in Sacramento. The Pizza Guy was a large part of the culture shift the Beam Team brought just a couple of seasons ago, has seen Kings basketball at its best state in decades, and knows how great a place the Golden One Center can be when the team is rolling. This is a valuable presence to have in a locker room for a young team that will (in all likelihood) experience many bumps in the road over the next few seasons. 

Like a potential Domantas Sabonis extension, Sacramento extending Monk feels like a very long shot. It should not be dismissed as quickly as it probably will be, though.